Forgive the posting absence. Family matters. Now, back to work.

Word is out that the Ritz Carlton Kapalua on Maui is closing this summer for a massive renovation (close to $100 million) that will convert a significant percentage of the rooms to residences. So many hotels have been taken out of the pool as owners have grabbed quick cash to convert to condotels, time shares or just plain condos that its becoming an open question as to whether Hawaii will have a room shortage in the near future. The reduction in hotel rooms has certainly played a major role in keeping Hawaii hotel prices among the tops in the nation with average room rates north of $200 per night.

—Alex, 01/21/07